Doxim reaches $5.5 million proposed settlement over December 2023 data breach affecting financial clients
By
Roma Patel
Right out the toaster. Reliable, with some real depth.
Summary
A proposed $5.5 million class action settlement has been filed in the Doxim data breach litigation, stemming from a December 2023 cyber incident where a software provider serving credit unions, wealth management firms, and banks had files containing names, mailing addresses, and account numbers removed from its network. The case highlights the security risks posed by third-party vendors in the financial services sector.
Key quotes
· 3 pulledOn May 5, 2026, the parties in In re Doxim, Inc. Data Security Incident Litigation (E.D. Mich. June 13, 2024), filed a proposed $5.5 million class action settlement arising from a cyber incident involving Doxim, a software provider serving credit unions, wealth management service providers, and banking sectors in the United States and Canada.
Doxim detected suspicious activity on December 30, 2023, in the part of its network supporting credit union services.
It later determined that files had been removed from its network and that those files included names, mailing addresses, account numbers
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